May 11, 2017

The Shift to Experience Management

We live in the era of the customer experience. Hotels, banks, restaurants and retailers all compete to deliver stellar service, with the aim of differentiating their offering and building customer loyalty.

Property management is no different.

More than just a physical space to be managed, rental buildings are also a community. Property managers and owners need to think beyond square metres; they need to shift their focus away from pure property management and toward experience management.

Think Like a Bank

Most of us over the age of 30 can remember the frustration of spending hours in bank lines waiting to cash cheques or complete other “in-person only” transactions. But these days, we only have to wait as long as it takes to log in to our online accounts and swipe, type or click. Banks have capitalized on the mobile movement, enabling customers to do nearly everything online.

Now property management operations can take advantage of the same type of online and mobile technology. Residents want to be able to pay their rent online, submit a maintenance report via their phone or even get a text message when the concierge or doorman has received a parcel for them. So let them; set up your operations to provide the most convenient options possible for your tenants.

A Personal Touch

Technological perks, like online maintenance requests or rent payment options, are important to today’s residents. But they’re no substitute for establishing a strong sense of community within your rental properties.

Customer service always begins with people. You need to hire the best building personnel who take the time to get to know your residents, so they feel safe, comfortable and welcome—and more likely to renew their leases when the time comes! (Having trustworthy, reliable workers on staff also improves operational efficiency and reduces turnover, saving you more time and money.)

Be Proactive

As the saying goes, an ounce of prevention is worth a pound of cure. Preventative maintenance is critical to minimizing costs and reducing the impact of repairs for residents.

Having a digital hub to store historical data on tenant repairs and monitor current work orders enables property managers to identify patterns and highlight potential problem areas—before they become bigger problems. From these insights, you can make informed decisions about how to proceed, and, as an added bonus, you’ll improve the customer experience in the process.

Experience Counts

At Property Vista, we can provide you with the resources you need to embrace experience management, boosting resident satisfaction along with your bottom line. To learn more, sign up for your free account today.

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Web based and simple-to-use, PropertyVista offers a suite of online tools designed for landlords and property managers who understand the importance of reducing vacancies, cutting risk and improving cash-flow through strong tenant relations.